LenderCity, Inc. has announced the launch of Lenny(TM), an AI-powered mortgage assistant designed to help consumers interpret and compare mortgage offers before deciding whether to connect with a lender.

LenderCity originated as a mortgage rate marketplace. However, the company recognized that displaying rates addressed only part of the challenge: borrowers could view numbers but still needed to interpret how factors such as interest rate, annual percentage rate (APR), monthly payment, points, lender credits, lender-controlled fees, cash to close, and timing influenced the actual decision. The distinction between interest rate and APR, for instance, has long been a source of borrower confusion: the note rate determines the monthly principal and interest payment, while the APR reflects the rate plus certain loan costs, offering a broader measure of borrowing cost. Lenny introduces the interpretation layer that rate listings alone lack.

"Mortgage shoppers do not need another wall of rates. They need help understanding what each offer means for their payment, upfront cash, and the years they expect to keep the loan," said Gregg Harris, founder and CEO of LenderCity. "We built Lenny to do the comparison work first, explain the tradeoffs plainly, and connect consumers with licensed mortgage professionals only when the consumer chooses."

Lenny offers consumers three primary ways to work through a mortgage decision:

Ask Lenny: Consumers can ask mortgage-related questions in their own words. Lenny can explain concepts and calculate scenarios when the consumer supplies relevant numbers.

Compare Matched Rate Offers: Consumers can review available offers from participating lenders using payment, APR, points, lender credits, lender-controlled fees, and expected holding period rather than relying on the advertised rate alone.

Analyze Loan Estimates: Consumers can upload one Loan Estimate for a detailed checkup or two for a side-by-side comparison of disclosed terms, payments, credits, fees, cash to close, and cost over time. The standardized three-page Loan Estimate form, introduced under the TILA-RESPA Integrated Disclosure rule that took effect in October 2015, was designed to make it easier for consumers to compare offers — but many borrowers still find it difficult to parse the interactions between rate, fees, credits, and total cost. Lenny targets that gap.

The platform also features Rate Watch, which monitors a saved scenario and alerts the consumer when a selected threshold or a materially better matched offer becomes available. When a consumer is ready to speak with a mortgage professional, the Lenny Intro function prepares a decision handoff containing the scenario, offer information, relevant calculations, open confirmation items, and the consumer's approved questions.

Lenny's agentic, decision-aware workflow carries the consumer's scenario across questions, offer comparisons, and Loan Estimate analysis. It identifies missing inputs, recalculates what-if scenarios, monitors saved conditions, and prepares the next appropriate step — while leaving every lender selection and introduction under the consumer's control.

The consumer retains full control over the handoff process. No lender receives the consumer's contact information through a Lenny Intro until the consumer selects the lender or lenders, reviews what will be shared, and approves the introduction. Consumers may choose up to three lenders for side-by-side follow-up.

Lenny is engineered to distinguish between facts shown in an offer, calculated results, assumptions, and items that still require confirmation. Missing fees, credits, payment details, or lock information remain visibly unconfirmed rather than being silently treated as zero. Lender compensation does not influence Lenny's comparison or its Best Fit designation.

"The goal is not to replace the licensed mortgage professional," Harris said. "It is to give the borrower and lender a better first conversation. The consumer arrives understanding the tradeoff, and the lender receives the context and specific questions needed to confirm the decision."

Lenny provides educational mortgage guidance and comparison tools. It does not approve or preapprove loans, verify documents, pull credit, lock rates, or commit a lender to terms. Final program fit, eligibility, pricing, costs, documentation, and approval must be confirmed by a licensed mortgage lender. Availability of matched offers varies by scenario and participating lender.